Originally Posted by FlywithV (Post 1583716202)

First post, but plan to be here more in the near future.

I am currently looking at buying a C5. I have been looking for a c3 as well but I think i just want something more modern. The reason behind the c5 or c3 is mostly exterior looks. These are by far my favorite. I know what I want, it should be yellow.

Right now I am considering too options:

A 2002 with 110k miles, glass targa, very well maintained, , 3 owner, no accidents, a few minor blimishes, some mods, borla exhaust, cold air intake and "re-chip to 440" is the basic description I am getting from the dealer. The car was originally from Texas. I spoke with the owner (who traded it in) who bought it from his friend who said he had work done including those items by a performance shop in Texas to get those numbers. He has no further interest in the car and told me it is in perfect mechanical condition. It is not a Z06. It does have the Corvette embroidered logos on the console, mats and back cargo area with a bit of yellow leather trim touchs inside. The glass panel has some pitting or fading of the tent which I think could be fixed. I expect to pay aboout 15K.

A 2001 (i think) with only 25k miles, solid targa top, maintained well....basically new everywhere, it appears to have a borla and intake, no embroider or color accents inside, 2 owner (Dealer car), no accidents. It has aftermarket wheel which are very nice but I would prefer stock. I do not have any history but there isn't much. I expect to pay about 25k.

The 2002 is perfect in so many way, except the mileage. I can live with the minor (very minor) bumps and bruises. The 2001? is pristine and I do prefer the solid targa to the glass targa. The 2002 would be cash and done, the 2001 would be finance remainder or wait.

I came across the mileage thread and was encouraged. I am look at this from a five year prospective and cost will be about equal if the 2002 has no major issues over the next 50k.

What do you owners think?

Originally Posted by Mr.Bill (Post 1583716452)

First off, What is a re-chip to 440?

If you are looking to spend 25K you should be able to find your yellow 2001-2004 with low miles, Just don't be in a hurry, They are out there for sure.

Originally Posted by FlywithV (Post 1583716549)

The previous owners states that the performance upgrades and "re-chip" which I can only assume is a reprogram or re-tune. He states that it raised the flywheel HP to 440. Not sure if this is possible on a non-Z06 so I am very sceptically but it isn't that important. If it was a add-on chip I would probably remove it.

My main concern is that this engine is durable and will last 150k to 200k easy. if that is the case I would probably just get the 2002.

Unfortunately I do not know how much patience I have, when two near perfect matches are just down the street.

Originally Posted by 3boystoys (Post 1583716568)

If that's what the "previous owner" said, I would stay away from that car. It's obvious he has no clue about his car or what (if anything) was done to it.

Originally Posted by Slow Z06 (Post 1583716793)

DON'T DO IT!!!!

Buying a Vette is a slippery slope. At first it seams simple. An air filter or maybe just lowering it. Then there is the next mod, and the next. Before you know you are drooling over the next mod and selling off other stuff just to afford it. Trying to justify to your spouse the reason you spent 1000+ $$ on some new tires.

STAY AWAY

My name is Jerry and I approve this message

Originally Posted by Slow Z06 (Post 1583716793)

DON'T DO IT!!!!

Buying a Vette is a slippery slope. At first it seams simple. An air filter or maybe just lowering it. Then there is the next mod, and the next. Before you know you are drooling over the next mod and selling off other stuff just to afford it. Trying to justify to your spouse the reason you spent 1000+ $$ on some new tires.

STAY AWAY

My name is Jerry and I approve this message

Originally Posted by Sidewayz6.0 (Post 1583717939)

I'm amazed that people are considering $25K for a C5. Seriously man. Thats C6 money. I have recently seen a number of C5's for 15K that I thought were a decent deal. 50-60K miles, and a no accident car.

I wouldn't even consider spending a nickel more than $15,000 for a C5. Unless it had under 10,000 miles.

Originally Posted by bladex10 (Post 1583719918)

$25k for a C5 is crazy talk. A low mileage Z06, Yeah but $25k for a base C5 is way out of reach.

Originally Posted by Evil-Twin (Post 1583721945)

Just because you don't own or cant afford to by a Corvette, Don't bad mouth those that can...
after reading through your posts and threads you have only mentioned considering buying a C3 or a C4, but you seem to be someone with little knowledge of corvettes or the means to buy one.

Originally Posted by bladex10 (Post 1583722083)

You dont like my post so you go through my history to find stuff to say about me? lol. My daily driver costs more than an average C5. You know me so well obviously. You act like im talking about an $80k car or something. Let me guess, You must be one of those delusional old fart corvette owners who think their "super car status" C5 is still worth what you paid for it 10+ years ago and refuse to except the fact they are now affordable to your average minimum wage workers of America?

Once i find a decent 6 speed coupe locally that is REALISTICALLY priced, itll be mine. In the meantime, i'll continue waiting.

Originally Posted by Mr.Bill (Post 1583722158)

Originally Posted by bladex10 (Post 1583722205)

Seems like i'm the one with the clue and not others. I know how market works. You have 2 C5s. 1 with 120-150k miles for an average selling price of $9-12k that is in good running condition, Then you have the other c5 that is identical to C5 #1 except it has 60k miles on it that has a blown up "out of range" price of $22k. What you have is a car that is worth $22k to YOU. While the average market is $12k for that SAME car SAME condition you have, Just with average miles for the year, Which nobody will even know without the key to check the odometer.

People(usually 1st owner or people that bought their cars 10 years ago) cant grasp the fact that the average C5 only costs ~$10-$12k for a person looking to SELL their car, not hold onto it.

KBB for a mass produced base 1999 Corvette with 120k(average mileage for year):


Excellent
$12,430

Very Good
$12,055

Good
$11,755

Fair
$10,655

Originally Posted by Evil-Twin (Post 1583722390)

Other than your obvious cluelessness that is becoming more evident to many here.. here is the flaw in your thinking.. the difference between a n excellent C5 and a beater with poor paint and a 14 year old beat to death interior with stock wagon wheels and stock exhaust is less than 2000 dollars.

Now lets take my C5 with an original MCM carbon fiber hood that I could get $2000 from almost anyone, just for the hood. Add my 3000 dollar interior, and my 1500 double din navigation and blue tooth system with HD radio and DVD and upgraded speakers, and my 1500 dollar rotors and my 3000 dollar CCW wheels, and my 1500 dollar exhaust system, and my LS7 Clutch and C6 hydraulics., 1000 dollar brake coolers, etc, etc. and 1500 dollars doesn't cover much of that. So take an excellent C5 at 12500 and add 15000 dollars worth of high end upgraded mods and you have a C5 that worth 20 or 25 K to someone looking for a car with every maintenance receipt and piece of paper associated with the car since the day it was purchased... adding a full history disclosure can bring an additional 1500 dollars to the selling price. IM not talking about a Carfax, IM talking about a paper trail that includes everything that ever transpired with the car. There are many people looking for a base C5, but there are many looking for an exceptional C5. I know this because I see them everyday begging me to sell them my car. They all say they have been looking but all they see are average beat up looking C5's with poor paint and interior.

Originally Posted by bladex10 (Post 1583722398)

I want your take on this car:
http://sacramento.craigslist.org/cto/3723471788.html

Aside from the miles, which is an easy engine swap away if it goes( which i doubt it needs to be since it passed CA's smog test) , Is this car "beat" to you?

Originally Posted by Evil-Twin (Post 1583722421)

Its got 200,000 miles, it has no tire pressure sensors, the paint is less than perfect. If that car was well maintained, then IM a virgin. Rotors are rusted. Its an automatic with a rebuilt transmission. Probably the right price.
An engine swap>>> ???? that's 8 grand with labor. unless your putting in another LS1 with 100K on it. Anything newer will put the cost at 10 K.

Originally Posted by racebum (Post 1583722442)

without inspecting either car i couldn't say

lower mileage typically means you'll have fewer issues and a nicer car.

but

how the 20k miles was put on matters. 100k miles on the freeway with good oil changes creates virtually no wear

if the 100k car was maintained well, has records and wasn't beat on i'd probably consider trying to get it in the 14's, why? you're in the car $10,000 less

as time goes on it's fairly certain that the c5 isn't going up in value, z16 might, pace car might. that's about it. so. if you buy the low mile car and run it up to 80k, then sell it i think the loss will be quite a bit higher than running a 110k mile car up to 160k or so. you run that 02 up to 160k in 4-5 years and still get 9000-10,000 when you sell it. what will you get for an 80k mile coupe in 5 years? 13 maybe?

Originally Posted by VtVette (Post 1583722464)

C6's are depreciating rapidly which is driving the price of C5's down more and more. It's the economics of the Corvette and had happened to every generation. C5's are on every used car lot in town these days. They can be had for a song and are only getting cheaper.

It does not detract from the value of these cars as great Corvettes only the price is dropping which should be expected from any mass produced luxury car as it ages.

Originally Posted by bladex10 (Post 1583722453)

I think what differs me and alot of Corvette owners(car owners in general) is that im a gear head. I dont let "future issues" that come with higher mileage cars steer me away from buying a car. On my 1998 Camaro Z28 i had a couple years ago, The water pump completely went out in a parking lot. I walked over to O'Riellys, Bought a waterpump and the appropriate tools and replaced it in the parking lot in alittle under an hour. Paid alittle over 100 bucks for everything. While most people would pay that just to tow it over to a shop to fork out a huge repair bill. Fixing stuff doesnt scare me in the slightest. So if i see a black MN6 C5 that needs alittle fixing up for a reasonable price, Ill jump on it like white on rice.

Originally Posted by racebum (Post 1583722496)

i agree

and i think guys who buy 10yr old cars with low mileage and THINK they won't have future issues are living in a pipe dream. age wears a car just like mileage

Originally Posted by bladex10 (Post 1583722469)

I agree. Its going to get worse and worse as the C7s start hitting the streets and even more when used C7s start coming around. Im already seeing a flood of cheap c6s for sell to fund for down payments on the c7

Originally Posted by Evil-Twin (Post 1583725164)

I disagree. With the upcoming launch of the C7 at 72,000 dollars, a 20,000 dollar C5 in perfect shape looks pretty good. Also a 35,000 dollar C6 looks good. I could buy a C7
but why should I trade in my C5 and give them an additional 55,000?
What I would get for the 55,000 is not worth the buzz I get and the kudos I get daily with my car. Sure the C7 would be new, but newness is not worth 55,000 dollars to me.

Originally Posted by VtVette (Post 1583725402)

Where did you hear $72,000 MSRP on a C7?

A base C6 Coupe is MSRP $49,600 right now. Everything I've read projects the C7 to be roughly the same when launched. I don't believe Chevy has ever raised MSRP on a vette significantly with the introduction of a new generation. In fact, IIRC when the C5 debuted the MSRP was was $1,500 to $2,000 less than a 1996 C4.

Originally Posted by VtVette (Post 1583725402)

Where did you hear $72,000 MSRP on a C7?

A base C6 Coupe is MSRP $49,600 right now. Everything I've read projects the C7 to be roughly the same when launched. I don't believe Chevy has ever raised MSRP on a vette significantly with the introduction of a new generation. In fact, IIRC when the C5 debuted the MSRP was was $1,500 to $2,000 less than a 1996 C4.

Originally Posted by Sidewayz6.0 (Post 1583723759)

I started reading some of the replies to this thread and thought I was in the Twilight Zone. I understand not digging the C6. I'm on my 3rd C5 for a reason.

However. In 2007, I bought an absolutely perfect 2004 MSG coupe. Fully loaded, 6-Speed, Garage queen, 19,000 miles. I bought it October 31st, and I paid $22,500. From a leading Corvette dealer in Chicago.

Now. Here we are 6 years later. And we're talking about cars that are 3 and 4 years older than that one, and people want to give $25,000 for it? It's nuts.

Originally Posted by Evil-Twin (Post 1583725663)

Let me see, The C3 MSRP was 6200 dollars, the Chevrolet Corvette C4 (1984); Also known as: L83, Sixth-Generation. ... Corvette C4 (1984 - 1996);... The base price was set at $21,800. and increase of 15500 over the C3 ...... the C5 was 39000 dollars, an increase of 17000 over the C4. in just 2 generations an increase of 32,000 dollars .... and you say there no significant increase. The C7 will come in at 69,000 to 72000. You are confusing the last year of a generation with the first year of a new generation. There are 7 to 12 years of increases within a given generation.

Originally Posted by bladex10 (Post 1583729299)

From what i remember, A fully loaded car with all the goodies/interior will be the more expensive $65-70k car. A base model C7 shouldnt be much more than $50k.